Galaxy Gaming said on 18 July 2024 that it had agreed to be acquired by Evolution Malta Holdings Limited, a subsidiary of Evolution AB. The cash deal is valued at about $85 million; Evolution plans to retain Galaxy Gaming’s management and employees and run it as a separate business unit.
The proposed cash acquisition would add Galaxy’s games and technology to Evolution’s portfolio, subject to completion.
Quarter ended 30 June 2026
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Evolution said its planned merger with Galaxy Gaming would no longer proceed. The agreement ended after its official deadline expired.
Evolution ended its planned acquisition of Galaxy Gaming after two outstanding gambling regulatory approvals prevented the deal from closing within the agreed period. Evolution will pay Galaxy a $5.2 million termination fee; the companies plan to continue their existing business relationship, Evolution said.
Evolution AB has ended its previously announced acquisition of Galaxy Gaming after the deadline to close the transaction passed. Evolution published a notice announcing termination of the deal, and the report was updated to include a response from Galaxy Gaming and Evolution's intention to end the merger.
It was reported that Evolution chief executive Martin Carlesund indicated the company might abandon its proposed $85m Galaxy Gaming purchase. The closing period expires on 17 July, when either party can terminate the agreement.
Evolution said it has agreed to acquire Arcadia Gaming Solutions for an upfront cash payment of €2.5 million, with an additional earn-out in 2027 based on Arcadia’s performance. The transaction remains subject to closing conditions and was expected to complete by the end of the year.